Labour Court rejects reopening of Cemex defined benefit pension scheme

The Labour Court did not recommend reopening Cemex Ireland Limited's defined benefit pension scheme to new employees. It recommended that the company and the Services Industrial Professional Technical Union negotiate a mutually acceptable alternative. The recommendation was signed on 21 August 2008. Cemex introduced a defined contribution scheme for new employees from 1 January 2004. The union objected, saying it had not been consulted, and sought the return of the defined benefit scheme or an alternative. The Court noted that pension entitlements were covered by a collective agreement and that no agreement had been reached to change them. If negotiations failed within six months, the matter could be referred back to the Court.